One source told The Sunday Times that Mr Hammond was paying close attention to the situation: "The chancellor is attuned to this and will be looking at ways of ensuring that things can be done a little fairer”.

He will want to prevent “heavy-handed” implementation of the revaluation so as to ensure “the system never has a cliff edge like this ever again”.

PA:Press Association

Internet giant Amazon will have its bills cut while high street retailers pay extra following the recent rates shake-up

Communities Secretary Sajid Javid previously backed calls for small firms to be spared the "crushing charges", it was revealed today.

He is facing a growing revolt from Tory backbenchers over the plans.

They are calling on the Chancellor to use the budget next month to u-turn on the plans.

PA:Press Association

Pubs are set to be hit hard by the business rate hikes - and many face closure

Ukip's sole MP Douglas Carswell said this morning that the move could "clobber the Government".

"We need a whole new system," he told the Andrew Marr Show.

Yesterday three former trade secretaries used a letter in the Daily Telegraph to call on the Government to think again.